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Despite the anticipated positive atmosphere following Bitcoin ETFs, the market did not react as expected, leading to a decline in BTC and subsequently altcoins. Nevertheless, investor support for some altcoins continues. Accordingly, the future investments and appearances of certain projects can make those altcoins more attractive to investors. With this in mind, we have assessed what possibilities lie ahead for three mentioned cryptocurrencies for investors in the coming week.
The Future of Polygon (MATIC)
With its developing ecosystem and established partnerships, Polygon (MATIC) tops the list. For instance, last year, major companies like Starbucks transitioned to using the Polygon blockchain. The blockchain platform continues to attract investors, as evidenced by a recent partnership announcement with Fox Corporation.
Despite these partnerships, MATIC’s price has fallen in line with the rest of the crypto market. Bulls are struggling to keep MATIC above the critical level of $0.70.
A potential market rally could help MATIC reclaim the resistance level at $0.80. At press time, MATIC is trading at $0.78, reflecting a weekly loss of approximately 11%.
What Will Be the Price of XRP?
XRP remains a hot topic, largely due to the ongoing Ripple-SEC lawsuit. Ripple has recently taken a stand against the SEC’s request by refusing to disclose financial statements and information about corporate sales.
Market trends have reflected significant movement in XRP-related products, with $2.2 million in market activity as of January 16, a substantial increase from the previous week’s $900,000.
Based on the latest price movements, XRP is trading at $0.55, with a 5% decrease over the last seven days when looking at daily trends.
Will Cardano (ADA) Rise?
Recently, Ali Martinez pointed out the parallel between Cardano’s current consolidation and the situation in 2020. Martinez suggested that if the pattern repeats, ADA could surge in April.
If this trend continues, the potential price target of $0.80, after a correction to the $0.60 region, could potentially move towards $7.
